Quest Partners LLC Purchases 11,570 Shares of Sunrun Inc. (NASDAQ:RUN)

Quest Partners LLC boosted its position in Sunrun Inc. (NASDAQ:RUN) by 149.9% in the third quarter, Holdings Channel.com reports. The firm owned 19,290 shares of the energy company’s stock after buying an additional 11,570 shares during the quarter. Quest Partners LLC’s holdings in Sunrun were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sylebra Capital LLC bought a new position in shares of Sunrun during the second quarter valued at $35,387,000. Vanguard Group Inc. increased its holdings in shares of Sunrun by 14.0% during the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after acquiring an additional 2,743,148 shares in the last quarter. Greenvale Capital LLP increased its holdings in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after acquiring an additional 2,000,000 shares in the last quarter. Senator Investment Group LP bought a new position in shares of Sunrun during the second quarter valued at $11,860,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock valued at $24,843,000 after acquiring an additional 927,947 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Sunrun Stock Up 9.6 %

Shares of RUN opened at $11.52 on Tuesday. The business’s 50 day moving average is $14.72 and its 200 day moving average is $15.41. The company has a market capitalization of $2.58 billion, a PE ratio of -6.33 and a beta of 2.61. Sunrun Inc. has a 12-month low of $9.23 and a 12-month high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 2,148 shares of Sunrun stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total value of $40,360.92. Following the sale, the chief executive officer now owns 579,193 shares of the company’s stock, valued at $10,883,036.47. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the completion of the sale, the chief financial officer now directly owns 278,260 shares in the company, valued at approximately $5,495,635. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,795 shares of company stock valued at $3,071,225. 3.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

RUN has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Barclays reduced their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Truist Financial reiterated a “hold” rating and issued a $12.00 price objective (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Finally, Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $11.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Sunrun presently has an average rating of “Hold” and an average target price of $19.49.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.